Eight of social media’s most-followed faces of finance have been charged with felony securities fraud in what prosecutors say was a “pump-and-dump scheme.”
UPDATE 4/18/24: Charges dropped against all defendants listed in this article other than Daniel Knight, who pleaded guilty on March 27.
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For years, the party never seemed to end but last week, the music finally stopped.
Eight of social media’s most-followed faces of finance, four of them from the Houston area, were arrested. All are charged with felony securities fraud in what prosecutors say was a “pump-and-dump scheme” that made them more than $100 million.
If you’re not familiar with the online fin-twit community, you likely missed the lavish lives lived by the men some call the ‘stock bros.’ It was inside some of Houston’s palaces in the sky where prosecutors said the men plotted, partied, pumped and dumped.
Likely the most recognizable face of the group is 38-year-old …